Decision-making in Colombian B Corps during the COVID-19 crisis

Vinciane Servantie, Sebastian L. Schorch and Luz Elena Orozco Collazos

Chapter 9 in Small and Medium Sized Enterprises and the COVID-19 Response, 2022, pp 222-250 from Edward Elgar Publishing

Abstract: B Corps set themselves apart from most firms in their aim to contribute to an economy by creating social and environmental value. Their success is not assessed in purely financial terms; it explicitly encompasses their stakeholders' wellbeing. This brings about important tradeoffs and conflicts between financial survival, fulfilling a purpose, and respecting the diversity in terms of the interests and needs of stakeholders who tend to become particularly vulnerable in times of crisis. In this chapter, we answer the following research question: How did Colombian B Corps respond to the challenges imposed on them by the global pandemic? In doing so, we pay special attention to decision-making processes in these organizations and assess how they have shifted in terms of logic (bricolage, effectuation, planification), focus (short team relief vs. long-term strategy), and scope (core organization vs. stakeholders, communities, and environment).

Keywords: Business and Management; Economics and Finance; Innovations and Technology (search for similar items in EconPapers)
Date: 2022
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